Principles of Double Entry - Jamb Accounts - Principles of Accounts Past Questions and Answers

Question 141:

• JAMB 2015

An entry in a subsidiary book which does not form part of the double entry system is a

A. Contra entry
B. Single entry
C. Journal entry
D. Memorandum entry

Question 142:

• JAMB 2015

When the invoice of a customer is overcast, the supplier will send to him a

A. Debit note
B. Cheque
C. Credit note
D. Payment voucher

Question 143:

• JAMB 2015

The ledger entries to be made if cash sales is banked is debit

A. Cash, credit sales
B. Sales, credit cash
C. Bank, credit cash
D. Bank, credit sales

Question 144:

• JAMB 2015

Which of the following is not a proper form of the accounting equation

A. Fixed assets + current assets - liabilities = capital
B. Fixed assests + current assests + liabilities = capital
C. Fixed assets – liabilities + current assets = capital
D. Fixed asset + current asset – capital = liabilities

Question 145:

• JAMB 2015

The following accounting entries are made when bad debt is recovered

A. Debit bad debts accounts and credit bad debt recovered account
B. Debit debtors accounts and recovered account
C. Debit bad debts recovered account and credit bad debts account
D. Debit bad debts account and credit profit and loss account